VanEck is one of the first United States-based asset managers to file for a Bitcoin (BTC) exchange-traded fund (ETF), is finally launching its Bitcoin futures ETF.
According to an official notice by the Chicago Board Options Exchange (CBOE), VanEck’s Bitcoin Strategy ETF will start trading on CBOE under the ticker symbol XBTF on Tuesday.
VanEck’s new ETF is joining the growing number of BTC futures-based ETFs launched in the U.S., including the ProShares Bitcoin Strategy ETF, which became the first Bitcoin futures ETF to start trading on the New York Stock Exchange on Oct. 19. Valkyrie’s Bitcoin Strategy ETF started trading on Nasdaq under the BTF ticker in late October.
CBOE’s listing of XBTF comes just a couple of days after the U.S. Securities and Exchange Commission officially rejected VanEck’s spot Bitcoin ETF application. The SEC argued that the proposed rule change to list the ETF did not meet standards to “prevent fraudulent and manipulative acts and practices” or “protect investors and the public interest.”
It Launched back in 1955, VanEck is a U.S. asset manager specializing in thematic and gold-based ETFs and mutual funds. VanEck is known in the crypto community as one of the first U.S. firms to ever file for a Bitcoin futures ETF. The firm has submitted multiple BTC ETF filings with the SEC since then but has only managed to get its futures ETF approved to date.
